Empowering Women in Fintech: The Impact of PalmPay’s Purple Women Global Masterclass
PalmPay Nigeria is making significant strides in bridging the gender gap in the fintech sector through its innovative Purple Women Global Masterclass. This initiative is designed to equip young Nigerian women with essential digital and professional skills, fostering greater participation in the financial technology landscape.
Addressing Gender Disparities in Fintech
The Purple Women programme is a response to the glaring underrepresentation of women in fintech and the broader tech ecosystem. During the third edition of the Global Women’s Masterclass, PalmPay’s Managing Director, Chika Nwosu, highlighted the importance of this initiative. “We noticed that there are not so many women in fintech and in the tech industry, and we intend to bridge that gap,” he stated, emphasizing the goal of increasing female leadership in the sector.
Collaboration for Change
Organized in partnership with the Global Women’s International Campaign Nigeria, the masterclass coincided with International Women’s Day, reinforcing the commitment to women’s empowerment. Participants received hands-on training in practical digital skills and professional development, preparing them for future opportunities in technology-driven careers.
Economic Empowerment and Its Ripple Effects
Nwosu articulated the broader societal benefits of empowering women economically and technologically. He remarked, “A money in the hand of a man feeds a family, but money in the hand of a woman feeds generations.” This perspective underscores how women’s financial empowerment can lead to improved education and stronger communities.
Inclusive Participation Across Nigeria
While the masterclass was hosted in Lagos, it was designed to be inclusive, allowing women from all over Nigeria to participate through an online registration system. “It is not only for people in Lagos; it is for all Nigerians,” Nwosu explained, ensuring that the initiative reaches a diverse audience.
Pathway to Employment: The Internship Program
At the conclusion of the training, PalmPay selected the top ten participants for a six-month internship, providing them with invaluable practical experience across various departments. Anthony Iwuala, Head of Human Resources at PalmPay, described the merit-based selection process, emphasizing the company’s commitment to equity and talent. “We ensure that we select people who are qualified,” he said.
Comprehensive Training and Mentorship
The selected interns will gain hands-on experience in departments such as marketing, human resources, and product development. Each intern will be paired with a mentor, providing guidance and support throughout the internship. Iwuala noted that the goal is not just to train but to create long-term employment opportunities for these women.
Success Stories from Previous Editions
The success of earlier editions of the Purple Women programme is evident, with participants from the previous cohort securing full-time employment at PalmPay. “The Purple Women 2.0 programme saw the ten women we trained offered full employment at PalmPay, and they are still working with us currently,” Iwuala shared, reinforcing the program’s effectiveness.
Encouragement from Industry Leaders
Kemi Okusanya, CEO of Hydrogen, urged women to pursue careers in technology, particularly in product development, where female representation is still lacking. “The only thing that can stop you is yourself. From a product perspective, the world needs us more,” she asserted, advocating for women to design products that reflect their experiences.
Building Confidence and Overcoming Bias
Nneka Okekearu, Director of the Enterprise Development Centre at Pan-Atlantic University, led a session focused on building confidence among women in professional environments. She addressed the unconscious biases that often deter women from pursuing opportunities in technology. “A lot of women have grown up being told they cannot do certain things,” she explained, emphasizing the need for self-awareness and confidence.
Progress and Challenges in Women’s Representation
While progress has been made in increasing women’s representation in leadership roles, particularly in the banking sector, Okekearu pointed out the “missing middle,” where many women leave the workforce during critical career stages. “We need systems that allow them to return without losing their career progress,” she noted, highlighting an area for improvement.
Future Aspirations for the Purple Women Initiative
Looking ahead, Nwosu expressed PalmPay’s commitment to expanding the Purple Women initiative. “The fourth edition will definitely come and we are going to make it bigger and better,” he promised, with the long-term objective of seeing more Nigerian women actively participating in the fintech industry and occupying leadership roles across technology and financial services sectors.
Through initiatives like the Purple Women Global Masterclass, PalmPay is not only empowering individual women but also contributing to a more inclusive and equitable future in the fintech landscape.
